Australia will avoid recession despite resource sector reliance

From Mineweb: A paper presented by Mike Smith, Chief Executive of the ANZ Bank, one of Australia’s major banks, to Prime Minister Rudd and Federal Treasurer Wayne Swan on October 23 has been released by its Author Saul Eslake.

While not painting a rosy picture, Saul Eslake - who is the ANZ’s chief economist - said the bank does not expect Australia will experience recession, “in the popular sense of consecutive quarters of negative economic growth.” However, many other Western economies will…… Full Article: Source